HOUSTON, May 07, 2024 — VAALCO Energy, Inc. declared its quarterly cash dividend of $0.0625 per share of common stock for the second quarter of 2024 , which is payable on June 21, 2024, to stockholders of record at the close of business on May 17, 2024. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors.
George Maxwell, VAALCO’s Chief Executive Officer, commented, “Our ongoing strong operational and financial success has allowed us to continue returning cash to our shareholders through a dividend. We paid $0.13 per share in 2022, $0.25 per share in 2023 and with this declaration, we are on track to deliver another $0.25 per share in 2024.
Dividends beyond the second quarter of 2024 have not yet been approved or declared by the Board of Directors. The declaration and payment of future dividends and the terms of share buybacks remains at the discretion of the Board of Directors and will be determined based on VAALCO’s financial results, balance sheet strength, cash and liquidity requirements, future prospects, crude oil and natural gas prices, and other factors deemed relevant by the Board of Directors.